Annual Financial Report 2024 2025

Virginia Tech Financial Report 2024-2025

Statement of Revenues, Expenses, and Changes in Net Position Operating and non-operating activities creating changes in the university’s total net position are presented in the Statement of Revenues, Expenses, and Changes in Net Position , found on page 21. The purpose of the statement is to present all revenues received and accrued, all expenses paid and accrued, and gains or losses from investments and capital assets. Operating revenues are generally received through providing goods and services to the various customers and constituencies of the university. Op erating expenses are expenditures made to acquire or produce the goods and

services provided in return for the operating revenues, and to carry out the missions of the university. Salaries and fringe benefits for faculty and staff are the largest type of operating expense. Non-operating revenues are revenues received for which goods and services are not directly provided. Included in this category are state appropriations and gifts which supplement the payment of operating expenses of the university and support of student scholarships. Therefore, the university, like most public institutions, expects to show an operating loss.

Summary of Revenues, Expenses, and Changes in Net Position

Revenues, Expenses, and Changes in Net Position For the years ending June30, 2025 and 2024 (all dollars in millions)

2025

2024

Change

Amount

Percent

(restated)

Operating revenues Operating expenses

$

1,639.9 $

1,537.9 $

102.0 186.5 (84.5) 77.8 (6.7) 84.0 77.3 412.8 490.1

6.6 % 9.5 % 20.1 % 12.7 % (3.5)% 37.9 % 18.7 % 16.2 % 16.5 %

2,144.6

1,958.1

Operating loss

(504.7) 689.4 184.7 305.4 490.1

(420.2) 611.6 191.4 221.4 412.8

Non-operating revenues and expenses

Income (loss) before other revenues, expenses, gains or losses

Other revenues, expenses, gains or losses

Increase in net position Net position - beginning of year Net position - end of year

2,967.8

2,555.0

$

3,457.9 $

2,967.8 $

Photo by Luke Hayes/Virginia Tech

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